On October 26, 2018, ABC Financial Assets Investment Co., Ltd. (hereinafter referred to as "ABC Investment") formally signed the Equity Transfer Contract of Inner Mongolia Jinghe New Energy Co., Ltd. and Capital Increase Agreement of Inner Mongolia Jinghe New Energy Co., Ltd. with ICBC Financial Assets Investment Co., Ltd., SPIC Beijing Electric Power Co., Ltd., and Inner Mongolia Jinghe New Energy Co., Ltd. in Beijing. With an investment scale estimated at 2 billion yuan, it aims to promote the marketization of the debt-for-equity swap business. It is a concrete measure to implement the central government’s efforts to lower leverage, reduce debts, and prevent financial risks, and an important move to enhance the company’s development and profitability abilities.